Governments have yet to address all the ways crypto might be taxed, the International Monetary Fund (IMF) has realized, and the amount of taxes not imposed or collected may reach well into the tens of billions of dollars. That insight does little to reduce the variety of challenges in taxing crypto, however. Crypto’s “semi-anonymity,” its
Valve allows AI content on Steam Game developers can use AI-generated content in games listed on Steam. But only if it isn’t generated using copyright-infringing content. That’s the official line from Valve, the creators of game publishing platform Steam, which it made in response to a June Reddit post that’s been making the rounds about
Bitcoin (BTC) miners made a lofty $184 million from transaction fees in the second quarter, far more than what they pocketed over the entire 2022 — as Bitcoin’s price surged and BRC-20 tokens flourished. The $184 million payout is more than a 270% increase from the first quarter of 2023 and it is the first quarter
Twitter Payments LLC, a subsidiary of Elon Musk’s Twitter social network, appears to have received its first money transmitter licenses after Michigan, New Hampshire and Missouri approved the company’s applications. NEWS: Twitter has finally secured its first money transmitter licenses in several US states. pic.twitter.com/gziiRgelYU — T(w)itter Daily News (@TitterDaily) July 5, 2023 A
According to a Reddit post, a developer has posted an unusual farewell note, apologizing and blaming his online gambling woes after leaving a project in shambles, turning a $2 million valuation into $20,000 within minutes. Several investors in the Encryption AI project have reported that its developer performed a rug pull during a liquidity migration event. As
Litecoin (LTC) price is down today, mirroring downside moves elsewhere in the crypto market. On July 5, the LTC price dropped over 3% to $100.50. On the same day, the crypto market’s overall capitalization fell 2%, suggesting traders have started securing profits at the local tops of multiple cryptocurrencies. Litecoin’s RSI turns “overbought’ Litecoin rallied
There is a common belief that when the U.S. dollar declines relative to other main global currencies, as measured by the Dollar Strength Index (DXY), the impact on Bitcoin (BTC) is positive, and vice versa. For instance, the DXY index dropped from 103.0 on Jan. 2017 to a 92.6 low on Aug. 2017, while Bitcoin
The first batch of blockchain use cases to debut in Europe’s regulatory sandbox was formally introduced on July 3, following a long wait and nearly 90 applications received in April. First disclosed in 2020, the initiative aims to bridge the regulatory gap between European nations and crypto companies. According to the European Commission, 20 projects
Binance Australia is working with local authorities on meeting compliance requirements amid reports alleging that the company’s offices were searched on July 4. “We are cooperating with local authorities and Binance is focused on meeting local regulatory standards in order to serve our users in Australia in a fully compliant manner,” a spokesperson for Binance
The Reserve Bank of India (RBI) is currently in dialogue with its counterparts from at least 18 other countries on the possibility of cross-border payments in the “digital rupee”. The report about RBI’s ambitious foreign trade plans for the Indian central bank digital currency (CBDC), appeared in the Economic Times on June 27. It cites
Bitcoin (BTC) bulls face a tough task to bring BTC price action past $35,000, fresh analysis predicts. In its latest market update on July 5, trading firm QCP Capital flagged the mid-$30,000 range as a potential cooling-off point for the Bitcoin bull market. Bitcoin homes in on pot-FTX rally peak With BTC price stagnating around
With the Bitcoin (BTC) halving event less than a year away, several financial giants have filed applications for a spot Bitcoin exchange-traded fund (ETF) — a scenario last seen before the 2020 to 2021 bull run. Institutional interest in the sector dried up after major crypto giants such as FTX collapsed amid a prolonged crypto
Industry experts believe Hong Kong’s shifting attitude towards blockchain technology, cryptocurrencies and Web3 could entice businesses away from the United States. The city has made a series of moves over the past year to foster the development of the Web3 space and enable retail investment into cryptocurrencies. The latest example of this is the formation
The Bitcoin (BTC) futures’ premium has reached its highest level in 18 months on July 4. But traders are now questioning whether the derivatives metrics indicate “excessive excitement” or a “return to the mean” after a prolonged bear market. BTC price gains capped by regulators, macroeconomics Bitcoin’s price has been trading in a narrow 4.4% range
Recent weeks have seen a surge in interest from traditional finance for crypto-based exchange-traded funds (ETFs). After the Securities and Exchange Commission took issue with its initial filing, BlackRock submitted a fresh application for a Bitcoin ETF on July 3. A week earlier, Fidelity led a crop of investment firms in lodging applications with the
The United Kingdom’s Financial Conduct Authority, or FCA, has announced that all cryptoasset firms marketing to users in the country must be in compliance with its financial promotions regime by October 2023. In letters dated July 4, the FCA said starting on Oct. 8, companies operating in the U.K. will have only “four routes to
The Chinese government has announced plans for export controls on metals predominantly used to manufacture semiconductors used in the development of artificial intelligence (AI) systems. On July 3, the Chinese Ministry of Commerce issued a joint statement with the General Administration of Customs which said the controls are aimed at protecting the interests of national
Bitcoin (BTC) has been the “primary focus” for institutional investors over the last two weeks, according to Coinshares, as the cryptocurrency continues to hit new prihighs for 2023. In a July 3 report from CoinShares’ Head of Research James Butterfill, the analyst noted that Bitcoin-related products saw $310.6 million of inflows over the last two
Hong Kong crypto ETFs’ rise to popularity During a June 28 interview with Hong Kong’s public broadcast agency Radio Television Hong Kong, Peishan Li, chief executive and board member of Hang Seng Investment Management, disclosed that digital asset ETFs listed in the Special Administrative Region (SAR) of China have now surpassed $12 billion Hong Kong
The stock market can offer valuable insights into possible Bitcoin (BTC) price movements as a big potential trigger is expected this month. Q2 earnings’ numbers due this month Notably, Q2 earnings’ numbers are expected from some of the largest companies in the world in July, including: UnitedHealth, Citigroup and JPMorgan on July 14; Bank of America
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